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Informist, Tuesday, May 12, 2026

 

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--India Apr CPI inflation 3.48% 
--India Apr CPI inflation 3.48% vs 3.4% Mar 
--Informist Poll estimated India Apr CPI inflation at 3.8% 
--India Apr CPI food inflation 4.20% vs 3.87% Mar 
--India Apr CPI rural inflation 3.74% vs 3.63% Mar 
--India Apr CPI urban inflation 3.16% vs 3.11% Mar 
--India Apr CPI food and beverages inflation 4.01% vs 3.71% Mar 
--India Apr CPI paan, tobacco, and intoxicants inflation 4.76% vs 4.23% Mar 
--India Apr CPI clothing and footwear inflation 2.80% vs 2.75% Mar 
--India Apr CPI housing and utilities inflation 1.71% vs 1.97% Mar 
--India Apr CPI furnishing, household equipment inflation 1.61% vs 1.39% Mar 
--India Apr CPI health inflation 1.64% vs 1.75% Mar 
--India Apr CPI transport inflation -0.01% vs 0.00% Mar 
--India Apr CPI information and communication inflation 0.50% vs 0.33% Mar 
--India Apr CPI recreation, sport, and culture inflation 2.11% vs 2.28% Mar 
--India Apr CPI educational services inflation 3.15% vs 3.30% Mar 
--India Apr CPI restaurants, accommodation svcs inflation 4.20% vs 2.88% Mar 
--India Apr CPI personal care and miscellaneous inflation 17.66% vs 18.65% Mar 
--India Apr CPI general index up 0.3% on month 
--India Apr CPI food price index up 0.2% on month 
--India Apr CPI core inflation 3.4% vs 3.3% Mar 
--India Apr CPI inflation of 3.48% highest in 13 months
 

 

NEW DELHI – India's headline inflation, based on the Consumer Price Index, rose to a 13-month high of 3.48% in April but was still lower than economists' consensus view, data released Tuesday by the statistics ministry showed. CPI inflation rose mainly due to higher food inflation and restaurant services inflation, reflecting the impact of cooking gas shortage at eateries stemming from the war in West Asia.

 

According to the median of estimates from economists polled by Informist, the headline inflation was seen at 3.8% in April. CPI inflation was 3.40% in March, as per the new series.

The food price index was up 0.2% month-on-month in April, while the general index was up 0.3% from March. Core inflation, which excludes food and fuel items, rose a tad to 3.4% in April from 3.3% in March.

 

Restaurants and accommodation services inflation rose to 4.20% in April from 2.88% in March. In this, food and beverage serving services inflation grew to 4.21% in April from 2.89% a month ago. The segment saw the impact of the war in Iran, which began on Feb. 28. The conflict between the US and Iran has disrupted energy supply globally and has led to a jump in energy prices.

 

While the government has so far shielded consumers from the direct impact of higher energy prices, Prime Minister Narendra Modi Sunday urged people to cut down on the use of petrol and diesel. India has been exposed to energy supply and price shocks, given its dependence on countries in the Persian Gulf region for crude oil, liquefied petroleum gas, and liquefied natural gas supplies. India is particularly struggling with the supply of LPG as it depends on imports to meet around 60% of its LPG needs and around 90% of those imports transit through the crucial chokepoint, the Strait of Hormuz. Liquefied petroleum gas is India's primary cooking gas.

 

Food inflation also rose last month to 4.20% from 3.87% in March. Food inflation is expected to rise further in months ahead. "An unfavourable base, shortages of fertiliser and the prospect of crop damage as a result of the ongoing heatwave, all point to further jumps in food inflation," Shilan Shah, deputy chief emerging markets economist at Capital Economics, said in a note. 

 

Food and beverages inflation rose 4.01% in April from 3.71% a month ago. "The available data suggests that the YoY (year-on-year) inflation rates have hardened across most food items during early-May vis-a-vis April, amid erratic weather conditions and supply disruptions," Aditi Nayar, chief economist at ICRA Ltd., said in a note. ICRA expects the CPI inflation to rise to around 4.1% in May, with food and beverages inflation seen inching up to around 4.5%.

 

The personal care, social protection and miscellaneous goods and services inflation fell to 17.66% in April from 18.65% in March. Even though inflation in the segment eased, it was still the highest print among broad divisions. Of the top five items experiencing high inflation, silver jewellery inflation fell to 144.34% in April from 148.42% inflation in March. Gold, diamond, and platinum jewellery inflation slipped to 40.72% in April from 45.88% a month ago.

 

"...this component (personal care segment) will continue to be a source of headline disinflation going forward, reflecting the unwinding of the y/y (year-on-year) surge in gold prices globally," Miguel Chanco, chief emerging Asia economist at Pantheon Macroeconomics, said in a note.

 

CPI inflation in April, at 3.48%, remained below the Reserve Bank of India's medium-term target of 4% and comfortably within the 2-6% tolerance band. Administered fuel prices continue to shield consumers from the jump in global crude oil prices, but this can't continue for much longer without leaving a big hole in the public finances, Shah said. "And food inflation is set to rise further too. We continue to expect the RBI to leave rates on hold this year but acknowledge that the chances of rate hikes are growing."

 

Economists are of view that if oil prices remain high for a prolonged period and food inflation rises further, the central bank will most likely hike the repo rate from 5.25%. "We expect RBI to remain on a wait-and-watch mode for now to assess the pass-through of the risks. However, the risks for early rate hikes (probably from October onwards) are building up," Upasna Bhardwaj, senior economist at Kotak Mahindra Bank, said.

 

The following table details the general index of the CPI and inflation for April:

 

	Weight	Index for April	Month-on-month change (in %)	Inflation for April	Inflation for March
Food and beverages	36.75	104.35	0.2	4.01%	3.71%
Paan, tobacco and intoxicants	2.99	107.24	0.8	4.76%	4.24%
Clothing and footwear	6.38	106.84	0.4	2.80%	2.75%
Housing, water, electricity, gas  and other fuels	17.67	102.83	0.1	1.71%	1.96%
Furnishings, household equipment  and routine household maintenance	4.47	103.78	0.4	1.61%	1.39%
Health	6.1	104.15	0.1	1.64%	1.75%
Transport	8.8	100.84	0.1	(-)0.01%	0.00%
Information and communication	3.61	103.66	0.2	0.50%	0.33%
Recreation, sport and culture	1.52	104.15	(-)0.2	2.11%	2.47%
Education services	3.33	105.93	0.5	3.15%	3.31%
Restaurants and accommodation  services	3.35	107.98	1.5	4.20%	2.88%
Personal care, social protection  and miscellaneous goods and  services	5.04	124.02	(-)0.1	17.66%	18.63%
Consumer Food Price Index	34.78	104.39	0.2	4.20%	3.87%
All India	100	105.12	0.3	3.48%	3.40%

 

Source: Ministry of Statistics and Programme Implementation

 

End

 

Reported by Shweta

Edited by Tanima Banerjee

 

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